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Introduced by: Borough Manager's Office thru the Mayor
Drafted by: E&F Director, David Conrad
Introduced on:03/17/2022
Adopted on:03/17/2022
KODIAK ISLAND BOROUGH
RESOLUTION NO. FY2022-24
A RESOLUTION OF THE ASSEMBLY OF THE KODIAK ISLAND BOROUGH ACCEPTING A
LOAN AGREEMENT WITH THE UNITED STATES DEPARTMENT OF AGRICULTURE
(USDA), RURAL UTILITY SERVICE (RUS) FOR A LOW INTEREST LOAN IN THE AMOUNT
OF $4,810,000.00 AT AN INTEREST RATE OF 1.75% FOR A 40 YEAR TERM FOR THE
FUNDING OF THE STAGE 3 CLOSURE AND LEACHATE PLANT PRETREATMENT
FACILITY AND EQUIIPMENT CAPITOL PROJECTS.
WHEREAS, the Kodiak Island Borough has received and agreed to the Compliance Order By
Consent (COBC) issued by the Alaska Department of Environmental Conservation associated
with a variety of discrepancies and non-compliance issues associated with the Landfill Operating
Permits; and
WHEREAS, The COBC's require the Borough to successfully correct the discrepancies and
comply with the Landfill Operating Permits by the 2026 permit renewal dates; and
WHEREAS, accepting the loan from USDA will allow the Borough to complete the projects and
satisfy the requirements of the COBC without putting undue burden on Borough taxpayers; and
NOW, THEREFORE, BE IT RESOLVED BY THE ASSEMBLY OF THE KODIAK ISLAND
BOROUGH that the Borough Manager is authorized to execute any and all documents required
by USDA to reflect the indebtedness, the terms of its repayment, and any security therefore,
including but not limited to an agreement for the loan and a promissory note.
ADOPTED BY THE ASSEMBLY OF THE KODIAK ISLAND BOROUGH
THIS SEVENTEETH DAY OF MARCH, 2022.
KODIAK ISLAND BOROUGH
r
ATTEST:
William Roberts, Mayor Ai so
Lina Cruz, Acting Borough Clerk
VOTES:
Ayes: Griffin, Smiley, Williams, and Arndt
Noes:
Kodiak Island Borough, Alaska Resolution No. FY2022-24
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